13 companies reshaping agriculture

Like its competitors, AGCO, an American manufacturer of agricultural equipment, is focusing on precision farming. Among other products, the company markets electric tractors and is developing autonomous vehicles, particularly since the acquisition of Canadian JCA Industries, a specialist in the development of autonomous software for agricultural machinery, in 2022. A majority of analysts recommend holding AGCO shares, which have risen by 10% since the start of the year.

There is an atmosphere of relief, even pride, at the Amoéba greentech facility in Chassieu. "Over the past few years, we’ve conducted more than 600 field tests, and now things are finally accelerating," says Swiss businessman Benoit Villers, chairman of Amoéba’s board of directors. The company has indeed overcome numerous obstacles since its founding in 2010. 

Let’s take a look back. In 2001, Professor Pierre Pernin of Lyon University discovered Willaertia magna C2c Maky in the thermal waters of Aix-Les-Bains. Behind this cryptic name lies a single-celled microorganism (an amoeba) with remarkable natural properties. "Willy", as it is known, is capable of destroying microorganisms that are pathogenic to humans, particularly Legionella pneumophila, by phagocytosis. This discovery led to the filing of a patent in 2006, and Amoéba was created in 2010 by Fabrice Plasson to harness it. The concept is to utilise Willy’s biocidal properties to treat water. 

To finance its development, Amoéba was floated on the stock market in 2015 at a price of €8.3 per share, raising €13.2 million. Promising results saw the share price soar rapidly, exceeding the €30 mark in 2016. And then... Europe refused to authorise the marketing of Amoéba’s product. The reason? Willy is an amoeba, a living organism. The authorities were unwilling to take any risks, given that five amoebae – out of the 15,000 recorded on the planet – are pathogenic to humans. In 2019, Amoéba became a penny stock – a share worth less than one euro – and had to completely reinvent itself. "As part of a study, we subsequently discovered that our amoeba in lysate form, i.e., mechanically crushed, retained fungicidal power," recounts Jean-Baptiste Eberst, director of Regulatory Affairs at Amoéba. "This was excellent news, because with a product containing a dead amoeba, we could free ourselves from the regulatory issues associated with the use of a living organism." 

Since 2019, the company has conducted more than 600 field trials in around 15 countries to prove the effectiveness of its product, called Axpera, against fungi such as downy mildew, powdery mildew, rust and fusarium, which attack a wide range of crops (vines, potatoes, soya, bananas and vegetables). 

"Unlike chemical fungicides or copper, which is used in vineyards to treat mildew, our product has no impact on the environment or workers’ health," stresses Jean-François Doucet, CEO of Amoéba. In May, the 27 member states of the European Union voted unanimously in favour of approving Willaertia magna C2c Maky lysate as a low-risk substance. Following this decision, Amoéba signed an agreement in June 2025 with Dutch biocontrol specialist Koppert, which will distribute this biofungicide from 2026 under its own brand. "This is a real turning point for Amoéba, which is moving from a research company to a commercial enterprise," anticipates Jean-Francois Doucet. 

The start of a stock market revival? The two analysts who follow Amoéba believe so. They have issued a buy recommendation, even though the share price has already appreciated by 20% since the start of the year (as at end-May).

Well-known for its chemical products (pesticides, fertilisers and other plant protection products), the German giant BASF has in recent years developed a range of biocontrol products. This is a way to meet increasingly restrictive regulatory requirements. Although the target of reducing the use of conventional crop protection products in the EU by 50% by 2030 was set aside in early 2025, Europe continues to encourage more sustainable agricultural practices, reinforcing the relevance of BASF’s biocontrol offering.

The issue of chemical pesticides (herbicides, fungicides, insecticides and others) continues to strain relations between legislators and farmers. On one side, both the European Union (EU) and the Swiss Confederation are attempting to reduce the use of these chemicals, which are accused of damaging the environment, biodiversity and human health. On the other, some farmers are campaigning to prevent a ban on active substances so that they can continue to utilise plant protection products to safeguard their crops. Drafted in 2019, the European Green Deal aimed to reduce the use of conventional plant protection products by 50% by 2030. However, farmers’ anger ultimately constrained the EU’s ambitions: at the beginning of 2025, the reduction target was set aside by Brussels for an indefinite period. 

This represents good business for a handful of multinationals: Switzerland’s Syngenta (world number one), Germany’s Bayer (number two) and BASF, and the US company Corteva Agriscience. Together, these giants control 70% of the global pesticides market, according to figures from the Pesticides Atlas published in 2023. Allied Market Research projects the global pesticide market will reach $92.6 billion in 2032, representing annual growth of 7.5% between 2023 and 2032. In 2022, farmers applied 3.7 million tonnes of pesticides worldwide, up 4% on 2021 and twice as much as in 1990, the latest data available from the Food and Agriculture Organization of the United Nations (FAO) shows. 

While pesticide giants such as Bayer have developed a range of biocontrol products in recent years, the majority of their revenue still derives from chemical compounds. As part of the powerful CropLife International lobby, which exerts major influence on international debates concerning pesticide regulation, they also continue to minimise the impact of their products on the environment and health. In 2024, Bayer’s Crop Science division recorded sales of €22.26 billion, almost 50% of the company’s turnover. A majority of analysts recommend holding the share, which has risen by almost 40% since the start of the year.

A spin-off from the Flemish Institute for Biotechnology (Vlaams Instituut voor Biotechnologie), this company is focusing on precision fermentation to produce proteins used as biocontrol solutions in agriculture, offering an alternative to chemical pesticides. Its most advanced product, a fungicide called Evoca designed to combat Botrytis and mildew, is awaiting approval in Europe and the United States.

Electrification and fully autonomous driving are not exclusive to cars. They could even become the norm in the fields first. In 2022, the Italian-American group CNH Industrial – the world’s second-largest manufacturer of agricultural machinery behind John Deere – presented the very first electric and autonomous tractor, the New Holland T4 Electric Power. It promises zero-emission agriculture. Since then, the competition – led by John Deere, but also Kubota and AGCO – has released equivalent models, launching the race to conquer the market for high-tech, socalled ‘precision’ agriculture, which aims to weed, plant, water and treat at precisely the right time and in exactly the right place, to increase yields and conserve every resource.

To capture this market, CNH - like its competitors - is actively acquiring promising startups specialising in robotics or artificial intelligence. In 2021, for example, the company acquired the innovator Raven Industries, a US specialist in autonomous solutions for agriculture, for $2.1 billion. “Precision agriculture and autonomy are critical components of our strategy," CNH CEO Scott Wine declared at the time, to justify this substantial acquisition.

What’s in it for investors? A majority of analysts recommend buying CNH Industrial – the company formed in 2013 from the merger of Italian company Fiat Industrial and its US subsidiary CNH Global. Since the start of the year, the share price has already risen by 13% as of end-May.

The Consumer Electronics Show (CES) – the mega-event for consumer electronics held annually in Las Vegas – is not just attended by manufacturers of smartphones and digital gadgets. At the latest edition, held in January, the agricultural equipment company Deere & Company, known for its John Deere brand, presented its second-generation autonomy kit. Comprising 16 cameras, it enables the tractors and other agricultural machinery marketed by the company to operate without human intervention. What about farmers? Via a dedicated application, they can access video feeds in real time and adjust various parameters such as speed. This autonomy kit will soon be available as preinstallation for new machines and as an adaptation package for certain existing machines. 

This is yet another innovation for Deere & Company. Founded in 1837 by John Deere, the company established its reputation by developing the first steel plough made of cast steel, which greatly facilitated the work of American farmers at the end of the 19th century. Almost 200 years later, Deere is globally renowned for its tractors and other agricultural machinery, recognisable by their yellow and green colours, which are deployed in fields worldwide. Innovation remains at the heart of the operation. In particular, the company has developed a sprayer drone in conjunction with the German company Volocopter. “John Deere remains a very well-positioned company, whose strength lies in its distribution network, points out Ignace De Coene, equity fund manager at DPAM. 

In 2024, however, the company experienced a decline in sales of 15.6%, to $51.7 billion, compared with $61.3 billion in 2023. This decline was confirmed in 2025 (revenues fell by 22% in the first half of 2025, compared with the same period a year earlier). For the year as a whole, Deere is forecasting a 30% decline in sales of large agricultural machinery in the United States and Canada (regions which account for 64% of its revenues) and a 5% fall in Europe, while the Asian and South American markets are expected to remain stable. Despite this challenging environment, investors continue to believe in the value of the share, which has appreciated by more than 20% since the start of the year. A majority of analysts recommend holding Deere & Company shares.

Founded in 1977 and listed on the stock market since 2020, this small American company develops and markets all the equipment required for greenhouse cultivation in a controlled environment, including nutrients, lamps, atmospheric control systems and hydroponic systems. The sole analyst covering the stock recommends holding the shares, which have declined by 40% since the start of the year (as at end-May).

Kubota, a Japanese manufacturer of agricultural equipment, is concentrating on precision farming. Specifically, the company has introduced hydrogen-powered tractors, as well as other electric models. The firm also features autonomous machines in its portfolio. A majority of analysts recommend holding the stock.

Gigantic greenhouses whose interiors sometimes resemble a laboratory or a cleanroom in the electronics industry. The American startup Local Bounti is among these vegetable growers aiming to revolutionise agriculture through controlled environment production, combining vertical farming and hydroponics (on neutral substrates rather than in soil). According to the company, its patented technology uses 90% less water and 90% less soil than traditional agriculture. 

With six factories already operational and 13,000 retailers, including Amazon Fresh and Walmart, the company is demonstrating robust revenue growth. In 2024, Local Bounti generated sales of $38.1 million, up 38% on 2023. This growth was confirmed in 2025, when revenues rose by a further 38% in the first quarter of this year. Sufficient to attract investors? Since the start of the year, Local Bounti shares have lost 5% of their value, hovering around the two-euro mark. This is because the company remains in the red: in 2024, Local Bounti recorded a net loss of $119.9 million, compared with $124 million a year earlier. "Many startups specialising in vertical farms are struggling to achieve profitability,"points out Ignace De Coene, equity fund manager at DPAM. "Their products are often more expensive than those of traditional agriculture." However, the experts remain optimistic: the two analysts who follow the company recommend buying the share.

A new food giant has emerged. In January 2024, Danish companies Novozymes and Chr. Hansen merged to create Novonesis – a heavyweight with over 10,000 employees and sales of €3.9 billion in 2024. Its domain? Developing and marketing biosolutions as an alternative to chemical products. In practical terms, Novonesis utilises micro-organisms – whether genetically modified or not – to produce various molecules (notably enzymes) that are subsequently deployed across a wide variety of industries, ranging from pharmaceuticals to food, energy and agriculture. 

In the food industry, for example, Novonesis has developed FreshQ, an innovative molecule that extends the shelf life of dairy products by seven days. The company emphasises that 80% of discarded yoghurt products are disposed of because their shelf life is too short. 

In the agricultural sector, the company has developed a comprehensive range of biocontrol products to protect plants against numerous diseases, particularly biofungicides. The company’s Agriculture, Energy & Tech division accounts for 36% of its sales, and its Food & Beverages division 33%. The remainder of the company’s revenues derive from household products (19% of sales) and pharmaceuticals (12%). In June 2025, Novonesis expanded further by acquiring Swiss flavour, fragrance and ingredient specialist DSM-Firmenich’s stake in Feed Enzymes Alliance, for €1.5 billion. This external growth strategy has attracted investors: since the start of the year, Novonesis shares have risen by nearly 15%, and most analysts continue to recommend purchasing the stock.

Like other drone specialists, such as Germany’s Volocopter and China’s DJI, the French company has its sight set on the agricultural market with dedicated models. In particular, the company markets the Parrot Bluegrass – a quadcopter designed to maximise yields through its two on-board cameras: a video camera and a multispectral sensor.

The year began exceptionally well for Village Farms on the Nasdaq. Since January, the Canadian company’s share price has risen by almost 50%, lifting it out of the unenviable category of penny stocks (shares worth less than one dollar). It was about time. A pioneer in Controlled Environment Agriculture (CEA), Village Farms opened its first greenhouses more than 35 years ago. According to the company’s own figures, its production technology now uses 97% less land and 86% less water than traditional agriculture. The company produces tomatoes, cucumbers and peppers in particular.

However, the company has changed course. On 2 June 2025, Village Farms formalised the sale of the majority of its historic fruit and vegetable business to a private joint venture. It will retain a minority stake but will no longer operate the business. This decision confirms a strategic reorientation that began in 2020 with the company’s entry into the recreational cannabis market in Canada, where it is now the third largest producer. The company also exports part of its production to Israel and Germany (since 2023), Great Britain (2024) and New Zealand (2025). It also opened a facility in the Netherlands in January 2025. Analysts are backing this strategy of expansion and diversification. The three experts who follow this stock recommend buying it.